Kotak Term Group Plan

Kotak Term Group Plan

A Non-Participating Term Group Plan

An organization is made of the people who build it with the strength of their mind and dedication of their heart. Since these people are so important, the security of their families is precious. Being an organization of repute you may like to share this responsibility by providing them with a solution that meets their need.
Kotak Term Group Plan provides life cover to the member, by paying a lump sum benefit to the beneficiary in case of an unfortunate event. There is also an option available for the member to opt for additional voluntary life cover for self and spouse. There is also a range of riders available to cover other risks like disability, dismemberment, illness, family benefit and functional impairment. It is an ideal solution that provides security to the families of your members in case of an adversity.

Key features

Voluntary cover for employees' spouses
Many employees work to support the needs and wants of their loved ones, which is why we extend the protection to their spouses for a nominal additional premium. Knowing their loved ones are well taken care of, your employees can truly give their best at work.

Choice of preferred premium payment mode
Depending on your organization's current needs, you can choose to opt for annual, half-yearly, quarterly and monthly premium payments.

Other advantages
Simple and easy administrative processes, Tax- deductible premiums, Worldwide insurance coverage, Comprehensive coverage with simplified underwriting.

Eligibility

Eligibility
Individual borrowers and investors / co-borrowers /co-investors of the institution can be covered under this plan.

Group Size:

Min: 50 | Max: No Limit
Age criteria: Entry Age (as on Last Birthday) Min/Max: As per Company Employment Policy

Basic Sum Assured per Member
Minimum: Rs. 5,000 | Maximum: No Limit

Policy Term
1 year (Annually Renewable)

Policy Payment Mode
Annual / Half-yearly / Quarterly / Monthly

Premium Modal Factor
Annual 100% , Half-Yearly 51%, Quarterly 26%, Monthly 8.75%
Know More About Our Other Group Insurance Offerings.